737 MAX crisis throws Boeing for a loss

737 MAX assembly
The first 737 MAX 8 plane undergoes final assembly at Boeing’s Renton plant in 2015. (Boeing Photo)

Boeing doubled its estimate for the financial effect of the 737 MAX crisis today and recorded a net annual loss for the first time since 1997 — but the company’s stock price rose nevertheless, reflecting market sentiment that the worst may be over.

An additional $9.2 billion was set aside to cover projected costs associated with the aftermath of two catastrophic crashes involving a 737 MAX 8 jet in Indonesia in 2018 and the same model in Ethiopia in 2019. That brought the total projected cost to $18.4 billion.

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By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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